MultiversX

About MultiversX (EGLD)

What Is MultiversX (EGLD)?

MultiversX is a sharded proof-of-stake layer one, launched as Elrond in 2020 and renamed late in 2022. It splits the network into execution shards coordinated by a Metachain, applying sharding to network communication, transaction assignment and state storage at once, a design it calls Adaptive State Sharding. Contracts run on a WebAssembly virtual machine and are usually written in Rust. EGLD, also written eGold, is the native coin for fees, staking and access.

Official resources:

• Official website
• Documentation
• Block explorer
• Node source code
• xPortal wallet app

Who Founded MultiversX? (History)

The project was founded in 2017 as Elrond by brothers Beniamin Mincu and Lucian Mincu with Lucian Todea, in the chief executive, technical and operating roles. Mainnet launched on 30 July 2020. The original ERD token was then replaced by EGLD: the project's blog documents the swap beginning on 3 September 2020 at 1,000 ERD to 1 EGLD. In November 2022 it rebranded to MultiversX at its conference in Paris, keeping the same chain, token and validators.

How MultiversX Works

Consensus is Secure Proof of Stake, a stake-weighted scheme using verifiable randomness and BLS multisignatures. Validators stake a minimum of 2,500 EGLD and run the node client. A proposer is elected each round from the round randomness, and the block is confirmed through two BLS signing rounds, giving single-block finality on a six second cadence. Epochs last about a day, and validators are reshuffled between the three execution shards and the Metachain at each boundary so no group can capture one.

Key Ecosystem Components

• The Metachain, which coordinates shards, finalizes cross-shard work and tracks staking.
• The WASM virtual machine and Rust contract framework.
• Native token standards, with fungible, semi-fungible and non-fungible tokens built into the protocol.
• xPortal, the consumer wallet app, plus the web wallet, explorer and staking providers.
• Sovereign Chains, a framework for application-specific chains, documented as incomplete.

EGLD Token Utility

EGLD pays transaction fees and covers deploying and calling contracts, issuing tokens and other operations. It is earned by validators producing blocks and by delegators staking through providers. The documentation states a maximum theoretical supply of 31,415,926 EGLD, with 20,000,000 minted at genesis and the rest released over roughly ten years. Minting is offset by fees, so only the difference between scheduled issuance and fee revenue enters circulation.

What Makes MultiversX Unique?

MultiversX was the first large network to ship all three forms of sharding together, including state sharding, the hardest because each shard keeps only a slice of the ledger. Contract authors also receive a documented 30 percent share of the gas spent calling their contracts.

How MultiversX Differs from Similar Projects

Against monolithic chains that scale by building one very fast execution environment, MultiversX scales horizontally by adding shards, trading cross-shard latency for parallelism and low node requirements. Against EVM chains, its WASM environment means Solidity contracts do not port directly. Against app-chain ecosystems with independent validator sets, Sovereign Chains connect back to the main network instead.

Use Cases of MultiversX

• Low-cost payments and transfers, including consumer use through xPortal.
• DeFi applications built with the Rust framework and native token standards.
• Staking and delegation for holders helping secure the network.

How MultiversX Is Secured

Security comes from stake, randomness and rotation. Validators post a minimum stake that performance rating can affect, consensus groups are drawn with verifiable randomness so proposers cannot be predicted, and epoch reshuffling stops an attacker accumulating influence in one shard. The network reports around 3,200 validators, and guardian protection lets accounts require a second approval for outgoing transactions.

Risks and Considerations

• Sharding adds complexity, and cross-shard transactions take extra steps.
• A WASM environment means few drop-in ports from Ethereum, which has slowed application supply.
• Staking involves lockups and unbonding, running a validator requires a meaningful stake, and delegating concentrates trust in a provider.
• Sovereign Chains documentation is marked incomplete, so treat that framework as evolving.

Why MultiversX Matters

MultiversX is one of the few networks to have run full state sharding in production for years rather than describing it on a roadmap, making it a practical reference point for whether horizontal scaling works outside a whitepaper. Its supply cap with fee-offset issuance also ties monetary policy to usage.

Where Can You Buy MultiversX (EGLD)?

EGLD is listed on many centralized exchanges and trades on decentralized exchanges within the MultiversX ecosystem. Because it is a native coin, withdrawing it requires a MultiversX address, and bridged representations elsewhere are distinct assets.

Storage Options After Purchase

Native EGLD can be held in the xPortal app or the MultiversX web wallet, with hardware wallet support for offline keys. Holders wanting staking rewards can delegate to a provider from those interfaces, keeping the unbonding period in mind.

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